Waystar Holding Corp. (WAY)
NASDAQ: WAY · Real-Time Price · USD
25.82
+0.10 (0.39%)
Sep 3, 2026, 1:00 PM EDT - Market open

Waystar Holding Financials Overview

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Revenue
1,2061,099943.55791.01704.87578.57
Revenue Growth
19.23%16.50%19.28%12.22%21.83%-
Gross Profit
833.24751.12627.82541.24489.98426.8
Operating Income
290.45262.01141.6142.08100.3160.32
Net Income
134.79112.09-19.13-51.33-51.46-47.12
Earnings Per Share
0.700.61-0.13-0.42-0.42-0.39
EPS Growth
45.53%-----

Revenue by Segment

Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Subscription
650.72558.41457.98401.01366.72334.48
Volume-Based
548.16534.76479.91386.28335.45241.89
Services and Other
6.866.125.663.722.712.2
Revenue (Total)
1,2061,099943.55791.01704.87578.57

Cash & Debt

Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash & Investments
193.5186.51183.2658.9388.4447.25
Total Debt
1,4821,4911,2632,2522,2612,302
Net Cash (Debt)
-1,288-1,405-1,080-2,193-2,173-2,255
Net Cash Growth
------
Net Cash Per Share
-6.72-7.60-7.20-18.02-17.86-18.57

Cash Flow & CapEx

Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Operating Cash Flow
292.99309.67169.7751.46102.63106.41
Capital Expenditures
-46.73-26.48-27.27-21.52-17.43-14.54
Free Cash Flow
246.26283.19142.529.9485.291.87
Free Cash Flow Growth
-11.60%98.73%375.90%-64.86%-7.25%-

Margins

Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Gross Margin
69.11%68.33%66.54%68.42%69.51%73.77%
Operating Margin
24.09%23.83%15.01%17.96%14.23%10.42%
Pretax Margin
16.18%15.63%-2.39%-8.07%-9.35%-11.53%
Profit Margin
11.18%10.20%-2.03%-6.49%-7.30%-8.14%
FCF Margin
20.42%25.76%15.10%3.79%12.09%15.88%

Valuation

Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingSep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
PE Ratio
36.7355.90----
Forward PE
14.8820.4248.28---
P/FCF Ratio
20.1722.1344.33---
PS Ratio
4.125.706.69---